Embrace standards to attract investment – SAZ
INVESTORS are willing to commit more resources to a venture that is run properly and whose operations are modelled in line with global best practices, Standards Association of Zimbabwe (SAZ) director general, Dr Eve Gadzikwa, has said.
Officiating during a recent How Mine standards certification ceremony in Bulawayo, she said standards certification on its own was not enough for the running of a business but has to be complemented by good corporate governance.
“To be effective, SAZ expects all certified companies to observe good corporate governance because this makes business sense in terms of long-term value and stability of the company,” said Dr Gadzikwa.
How Mine has been recertified on the integrated management system IOS 45001-2018, occupational health and safety system (OHSAS), ISO 14001-2015 environmental management system (EMS) and ISO 9001-2025 quality management systems (QMS).
To promote good corporate governance, Dr Gadzikwa said SAZ has launched ZimCode in 2015 as a national bench mark.
“In that regard, SAZ has partnered with the Institute of Directors Zimbabwe (IoDZ) and Zimbabwe Leadership Forum (ZIMLEF) in launching the ZimCode in 2015, which has been widely accepted as a national benchmark for good corporate governance,” she said.
She explained how SAZ gives internationally recognised certification as it has been accredited by Southern African Development Community Accreditation Services (SADCAS) and Southern African National Accreditation System (SANAS).
“The SAZ is accredited by SADCAS and SANAS, which is a signatory to the International Accreditation Forum (IAF) Mutual Recognition Agreement,” said Dr Gadzikwa.
The IoDZ is a non-profit membership-based association for professional leaders, which has a mandate to support businesses and the people who run them. The IoDZ does this mainly through training.
The Institute of Directors was founded in the United Kingdom (UK) in 1903 and was granted a Royal Charter in 1906. Unlike many Chartered Institutes, it is not, at least at present, an examining body but first and foremost considers itself a training institute.
The business community has endorsed the launch of the Zimbabwe National Code on Corporate Governance (ZimCode) that seeks to provide mechanisms for both private and public sectors of the economy to be governed.
ZimCode summarises key issues, which are relevant to the governance element whilst principles ensure the country is attractive to both local and foreign direct investment.
It aims to minimise corporate collapse and instils discipline within the business sector by establishing minimum standards for corporate leadership.
Dr Gadzikwa said the quality of corporate governance was important since it has a direct impact on the efficiency with which a corporation employs assets, the ability to attract low-cost capital, the ability to meet the expectations of society, the overall performance and long-term sustainability and value. – The Chronicle
